Maybe, Chris. I do tend to be an optimist. However, even with all the economic malaise reported in the news, and all the prognostications of doom and gloom, I still find my portfolio up 9.4% this year. And btw, I've only made 3 stock purchases this year and have not sold any stocks, mutual funds, or bonds. So it's not due to aggressive day trading, shorting, or options games.
So maybe my portfolio holding up well this year is giving me too much confidence? But more likely, it is because my portfolio is reflective of the broader economy in its diversification. Therefore, it is free of the distortions that the press has on the true economic picture.
It's something to think about. The economy is actually pretty strong, notwithstanding what the press says. Just take a look at recent publications on jobs created, and GDP and Factory Orders upside surprises. Also, take note of subdued inflation despite the raging deficits. Those are all good economic indicators, if you care to sift through the loud presskit B.S. and get to the truth.
I have no doubt we're headed for a softening in the first half of 2008, but I doubt there will be anything catastrophic like a Panic of 2008. That's just financial hype. Does he have a book about to go on sale? |
